Home > News > Brazilian textile industry decline 3.8% in the first half of 2018

Brazilian textile industry decline 3.8% in the first half of 2018

Brazilian textile industry decline 3.8% in the first half of 2018

2018-10-09

According to the Brazilian textile and apparel industry association (Abit) data show that now (2018) in the first half of the textile clothing industry production fell 3.8%, single textile industry, is also a recession, production fell by 0.9%.January to may of textile and apparel industry and retail sales fell 3.5%.

Abit President Fernando Pimentel says, for poor performance in the first half of this year, there are many tableland, this year the winter is not cold, trucker strike, during the World Cup consumption fell, and uncertainty of the elections, which allowed the industry performance than expected in the first half of the year.

In addition, in the aspect of creating formal employment opportunities, but also is worse than expected.According to P President says, is the history of Brazil's most slowly out of the period of economic recession.Canal, said the trucker strike helped make cause the loss of 4 to 5, moreover, consumers under considerations of personal credit to improve the durability of be fond of buy consumer goods, such as cars and high value products.In the Brazilian World Cup broadcast temporarily shut down the business, also be regarded as one of garment sales decline reasons.Chairman P that some sectors such as bars, restaurants, will benefit, but some sectors is consumption to reduce losses.

Abit also revised forecast for this year, the association of garment production this year is expected to grow 0.4% to 1%, is expected to be the growth of more than 2.5% before.Council of the expected earnings of $46 billion or 46 billion reais.The earnings should reflect the production and the price grow up a little, about between 6% to 7%.P President says the marginal revenue of the adjustment is not include industry, and is only due to increased costs.Clothing retail growth of 7.6% last year, earnings of $45 billion (144 billion reais), clothing production increased by 3.5%.In the industry expect things will improve in the second half of this year.As for 2019, Abit have positive and beneficial opinions, P President says countries next year will have uncertainty there is no interference, no matter how to win in October of the candidate, the policy will be clear.The association is expected next year production can be increased by 3%, retail sales rose 3% to 3%.